Consumer reviews and reports on scam companies, bad products and services
Armando Montelongo World
Armando Montelongo World Wide Inc. Nick Vertucci Companies Ripped off by Armando and his friends. Internet
1st of Sep, 2011 by User293210
I want to be fair, Armando Montelongo has taught me so much, and has really helped change my life. However, I paid $40,000 to go to 4 different seminars, one of which was held in Riverside CA. During that seminar his first words were to trust him. He told us that he knew the responsibility his company held, and that we placed more than money in him, we placed our hopes and dreams. And he was correct. While at the seminar he got us really worked up, Buy! Buy! Buy! was the chant. "Millionairs make decisions when?", "NOW!", we would all reply. He kept us up until 2 -3AM every night, and pumped Club music into the room at super high volumes the entire time. He would teach a little, them party, then teach, then party. It never ended. I learned alot, and had alot of fun. When you came out of the hall where Armando was teaching, there was an area that was covered by a giant black curtain. Inside that currtain were three companies, each set up at different tables. The first two companies I have no problem with so I will not name them, however the third company was owned by Nick Vertucci. Nick Vertucci handles all of Armando's cashflow lessons. He is most likely one of th greatest buy and hold real estate entrepenures that I have ever seen. I what he taught during the seminar was incredible. I really learned alot, I also really paid alot to get that knowledge. The stand that Nick had set up was covered in folders with pictures of different properties on them. Each on with a purchase price, and a the potential cash flow each property could potentialy make. One would think that it would be a conflict of intrest to sell real estate at a convention where the majority of the people came to learn how to flip, not purchase from a group of men that had just got us all for $40,000 each. I purchased two homes. To purchase you had to sign paperwork and then put $5000 down on the home. At the time they called the $5000 a cunsulting fee. I got home and found out that there were all kinds of hidden fees, and so I backed out of the first house immediatly, within about two weeks I backed out of the other. When I told them I wanted to back out, keeping in mind I never signed a purchase agreement, I signed something in California but never recieved a copy, NV Companies tried to make it seem like they were doing me a favor. I have the right to back out, and when I did, they told me that they were not going to refund my $10,000 cunsulting fee, they said they would keep it in case I wanted to purchase anymore property from them. I don't want any other homes, I want my damn money!! Armando Montelongo holds our hopes in a terrible economy, shame on you Armando, and shame on you Nick Vertucci. In the end I backed out because my disabled wife went into the hospital, and my 3 year old daughter, ridden with cancer is in and out 3 times a week. I am unemployed and trying to get this new company off the ground. I have enough problems, I don't need to be jerked around by a couple of millionaire bastards. You hold my hopes and dreams Armando? Well now what? You told me to trust you and your people and I did, and you robbed me. Armondo Montelongo does a good job educateing you to in real estate, but don't trust him as far as you can throw him. He will take every last dime and think nothing of it. To him it's only business. And Nick Vertucci is worse, he knew that everyone I loved was sick, and why I was backing out. He knew and just didn't even care. How very christian of you Nick.
Comments
3342 days ago by Zoma
Ditto!

I purchased 5 properties in Indianapolis through Nick who promised to: look after my investment!.
I did not know that after the sale, and, the 5K ea fee, Nick would be out of the picture -consultation ended once you signed on the dotted line and they showed you the picture of the house. Alpine Property Management in Indianapolis was the actual company selling these propertes - Nick was just collecting a 5K fee for affording you that privilege -Aramando' s introduction to his students. .

Their pitch:
These properties were refurbished;will be managed;tenants will be in place or found;they care about their investors;will receive a passive income, guaranteed even if not rented. etc

Reality:

Properties are poorly rehabbed if at all;filty mattresses/couches and rat invesgted - personal experience with one of the properties; rents when you do receive these - are absorbed with continuous repairs or properties left vacant after tenant walks owing 2 - 3 months' rent. In part this is due to poor vetting of prospective tenants; and ALSO the numerous complaints from tenants who say it is difficult to get maintenance and have to wait days if not weeks for responses; e--mails and phone messages are totally ignored ;and issues are not addressed;billed for security system $695. which was not authorised..

After the 1st month or two on seeing the state of the properties, Nick did try to get Alpine to do some of the repairs after I sent the pictures I took after visiting the properties -pictures one is sent are different to the reality-but the problems continued and Nick is out of the picture, despite promises to take care of my investments..

Aaron, owner of Alpine Property Management is equaly complacent and, it appears that the main focus of these two companies is to 'sell' properties at over-inflated prices - most of these properties need endless repairs and are a drain on one's resourses. Have not received a passive income in the 3 years since I have been holding these properties, as the costs for constant repairs and cleaning/painting after the tenants vacate after 10 months or so are greater than the rents received.

Nick and Aaron have shown that they DO NOT care about the concerns of 'their' investors and the losses incurred. Perhaps there are happy investors, but, I know that I am not the only one with continuous issues. Alpine now shows a BBB rating of D.

If these properties were to be sold - if a buyer can be found - it will be at a far reduced price than that which was paid as the properties they sold are over-priced. Yes, they get the gullible at these seminars and laugh all the way to the bank.

I have pulled my properties from Alpine 2 months ago and they are being managed by another company and the professionalism shown with this new company is a great relief. Rents were received Dec and January by the 11th of the month - .unlike when the properties were under the management of Alpine.

Nick did not stand by his promises.

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